FX.co ★ Technical Analysis of Intraday Price Movement of Gold Commodity Instrument, Monday February 03, 2025.

If we look at the 4-hour chart of the Gold commodity instrument, there appears to be a Convergence between the movement of the Gold price and the Stochastic Oscillator indicator, which is an indication of confirmation that in the near future it will test 2811.92. If this level is successfully broken, Gold has the potential to appreciate and rise to the level of 2837.17 and if the momentum of strengthening and volatility support it, the area level of 2911.02 - 2934.42 will be the next destination. However, if on the way to these targets there is a sudden significant weakening, especially if it breaks through and closes below the level of 2734.13, then all the strengthening scenarios that have been described previously will be invalid.

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